Canadian kids producer DHX Media has acquired the Degrassi franchise producer Epitome Pictures for US$30 million.
The cash and stock deal will see Halifax-based DHX Media grab a library of 469 half-hours from the Degrassi franchise, another 216 half hours of other Epitome series, and the Toronto-based Epitome Studios.
DHX Media proposes paying Epitome, which is led by Linda Schuyler and Stephen Stohn, around US$17.7 million in cash and the rest via 2,915,263 DHX shares.
Stohn will remain as president of Epitome, while sharing executive producer credits with Schuyler on all current productions.
Epitome has new productions in development that will be shepherded in partnership with DHX Media.
DHX Media, which is led by Michael Donovan, earlier acquired Cookie Jar Entertainment as part of an expansion into the family entertainment business.